Guideline Value for Shanthi Nagar 6th Street

Shanthi Nagar 6th Street guideline value

The current guideline value of Shanthi Nagar 6th Street is Rs 3,600 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam SRO, classified as Residential Special Type - II.

How the guideline value of Shanthi Nagar 6th Street has changed

The guideline value for Shanthi Nagar 6th Street has seen several revisions over the years. In 2007, the value was set at Rs 1,000 per sq.ft, which increased significantly to Rs 3,300 per sq.ft in 2012, marking a 230% rise. However, the value then dropped to Rs 2,211 per sq.ft in 2017, a decrease of 33%. The most recent revision in 2024 has raised the guideline value to Rs 3,600 per sq.ft, representing a 63% increase from the 2017 figure.

It is important to note that the register has no figure for this street for the years 2023, 2003, and 2002. Overall, from 2007 to 2024, the guideline value has increased by 260%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Shanthi Nagar 6th Street's 2024 guideline value of Rs 3,600 per sq.ft is above this median.

• Shanthi Nagar 6th Cross Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 7th Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 5th Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 5th Cross Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 4th Street: Rs 3,600 per sq.ft (2024)
• Shanthi Nagar 4th Cross Street: Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in Shanthi Nagar 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,600 per sq.ft, the total guideline value amounts to Rs 36,00,000. The stamp duty at 7% would be Rs 2,52,000, and the registration fee at 2% would be Rs 72,000, bringing the total fees to Rs 3,24,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Shanthi Nagar 6th Street?

The Sub Registrar Office covering Shanthi Nagar 6th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kolathur

The guideline value plays a crucial role during the registration of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, both the buyer and seller must be aware of the guideline value, as it affects the overall costs involved in the transaction. It is essential to consult the latest guideline values to ensure compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Shanthi Nagar 6th Street?

The current guideline value of Shanthi Nagar 6th Street is Rs 3,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 3,600 per sq.ft in 2024, marking an overall increase of 260% over the years.

What is the land classification of Shanthi Nagar 6th Street?

Shanthi Nagar 6th Street is classified as Residential Special Type - II, indicating its suitability for residential developments.

Where can I find the registration office for Shanthi Nagar 6th Street?

The registration office for Shanthi Nagar 6th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Shanthi Nagar 6th Street?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 3,600 per sq.ft incurs a stamp duty of Rs 2,52,000.